The Asia-Pacific Conference of German Business (APK), held in New Delhi, India, from October 24-26, 2024, brought together 800 influential business leaders, policymakers, and industry experts. This biennial event, organised by the Asia-Pacific Committee of German Business (APA), the German Federal Ministry for Economic Affairs and Climate Action (BMWK), and the German Chambers of Commerce Abroad (AHK), is a key platform for fostering dialogue between Germany and the Asia-Pacific region.
The conference theme – centred on sustainability, economic resilience, and innovation – highlighted the need for strengthened partnerships in addressing global challenges. With a program packed with panel discussions, keynote speeches, and cultural events, APK 2024 reaffirmed its status as a driving force in shaping the future of Indo-German and Asia-Pacific relations.
Thursday, 24 October 2024
International Hockey Match India vs. Germany
The conference opened with a friendly yet symbolic hockey match between the Indian and German national teams at the Dhyan Chand Hockey Stadium in New Delhi. Delegates joined Vice Chancellor Robert Habeck and APA Chairman Roland Busch on the grandstand, cheering for the teams in what was both a thrilling sporting event and a celebration of bilateral camaraderie.
The German team, visiting India for the first time since winning the 2023 World Championship in Bhubaneswar, faced off against India, and ranked 5th globally. Although it was a friendly match, it showcased the competitive spirit and sportsmanship of both nations. Transportation was arranged for delegates, ensuring a seamless experience for attendees eager to witness this unique sporting highlight.
APK Welcome Reception – A Deutsche Bank Evening of Connecting Worlds
Later, the APK Welcome Reception, hosted by Deutsche Bank, provided a warm and engaging atmosphere for networking. The reception, themed “A Deutsche Bank Evening of Connecting Worlds,” allowed participants to exchange ideas in a relaxed setting, setting the tone for the intense discussions ahead.
Friday, 25 October 2024
The second day began with the Opening Session, moderated by Isabelle Körner, German TV Moderator and Shivani Wazir Pasrich, Indian Moderator.
Opening Session
Peter Adrain, President, German Chamber of Commerce and Industry, started the day with a Word of Welcome, followed by key remarks from Conference Co-Chairmen Roland Busch, Chairman, Asia-Pacific Committee of German Business, President & CEO, Siemens; and H.E. Robert Habeck, Vice-Chancellor & Federal Minister for Economic Affairs and Climate Action, Federal Republic of Germany; as well as H.E. Piyush Goyal, Minister of Commerce and Industry, Government of India.
“German companies must focus on fostering local ecosystems that drive growth and innovation.” – Roland Busch, Chairman, Asia-Pacific Committee of German Business, President & CEO, Siemens
“This conference, coinciding with the Indo-German intergovernmental consultations, underscores the importance of mutual partnerships in tackling shared challenges.” – H.E. Robert Habeck, Vice-Chancellor & Federal Minister for Economic Affairs and Climate Action, Federal Republic of Germany
“An India-EU Free Trade Agreement can transform our collaboration by respecting each other’s sensitivities and aligning our growth trajectories.” – H.E. Piyush Goyal, Minister of Commerce and Industry, Government of India.
Reshaping Globalisation – Talk with Ministers from Asia-Pacific
A panel discussion on Reshaping Globalisation had Roland Busch, H.E. Piyush Goyal, H.E. Robert Habeck, and H.E. Namgyal Dorji, Minister of Industry, Commerce and Employment, Kingdom of Bhutan. In an era marked by volatility, uncertainty, complexity, and ambiguity due to geopolitics, climate change and digitalization, the Asia-Pacific region is at the forefront of economic transformation. While different actors in different regions have different approaches to these transitions, all gain from focusing on collaboration and exchange.
Keynote by H.E. Olaf Scholz
In his keynote speech, H. E. Olaf Scholz, Federal Chancellor of Germany, said, “We need the spirit of openness in today’s world allowing for the free flow of information, resources, and innovation.” He made clear that negotiations on a Free Trade Agreement between India and the EU should progress and be concluded in months rather than years.
The German Chancellor emphasized the deepening strategic partnership between Germany and India, particularly in the context of the Indo-Pacific region. Highlighting shared democratic values and mutual economic priorities, H. E. Olaf Scholz acknowledged India’s growing role in global trade and manufacturing. He stressed the importance of reducing dependencies in global supply chains, fostering innovation, and leveraging green technologies to address climate change. The German Chancellor also commended India’s commitment to upskilling its workforce, aligning with Germany’s focus on vocational training and sustainable economic development. Reiterating the need for collaborative efforts, he described Germany and India as “natural partners” in driving a resilient and inclusive global economy.
Keynote by Prime Minister Narendra Modi
H. E. Olaf Scholz then invited the Prime Minister of India, Narendra Modi, on stage for his keynote speech. In his speech, Prime Minister Narendra Modi emphasised India’s strategic role in shaping global trade and innovation. He highlighted four key pillars driving India’s growth: Democracy, Demography, Demand, and Data. He declared, “The combined power of Artificial Intelligence and Aspirational India is shaping a future where human resources and innovation lead the way.”
PM Modi also underscored India’s focus on transformative missions such as Green Hydrogen, Semiconductor Development, and Digital India, positioning the country as a global leader in sustainable technology. He noted, “India is becoming a prime centre of diversification and de-risking, emerging as a hub of global trade and manufacturing.”
Acknowledging Germany’s partnership, PM Modi commended the launch of the India-Germany Renewable Energy Investment Platform, which aims to accelerate green projects. He also announced a significant increase in Germany's visa allocation for skilled Indian workers – from 20,000 to 90,000 annually – to bolster economic ties.
“The unprecedented presence of both Heads of Governments H.E. Olaf Scholz and Prime Minister Narendra Modi, and the contributions by Conference Co-Chairmen H.E. Robert Habeck and his Indian Counterpart H.E. Piyush Goyal, underline the importance and strength of Indo-German relations. Holding the 7th Indo-German Intergovernmental Consultations (IGC) and the 18th Asia-Pacific Conference of German Business (APK 2024) in parallel in New Delhi, demonstrates the close alignment between Government and business in prioritizing this special relationship.” – Stefan Halusa, Director General, Indo-German Chamber of Commerce.
Keen on Green – Sustainability Strategies of German and Asian Companies
The panellists for the session on Keen on Green were Anne-Laure Parrical de Chammard, Member of the Executive Board, Siemens Energy & Siemens Energy Management; Ishan Palit, Member of the Board of Management & COO, TÜV SÜD; Sanjiv Puri, President, Confederation of Indian Industry, Chairman & Managing Director, ITC; and Chana Poomee, Chief Sustainability Officer, Siam Cement Group. The discussion was moderated by Anandi Iyer, Director, Fraunhofer India.
Discussions revolved around Germany’s leadership in green technologies and Asia’s rapid strides in renewable energy adoption. Anne-Laure Parrical de Chammard highlighted Germany’s €15 billion investments in green projects across the Asia-Pacific, aiming to reduce emissions and promote carbon neutrality. Chana Poomee, representing a Southeast Asian conglomerate, emphasized the critical role of solar energy, stating, “Sustainable solutions like solar power are essential to meet Asia’s growing energy demands.”
AHK Business Lunches
The AHK Business Lunches on 25 October 2024, provided participants with region-specific insights, fostering deeper discussions on economic trends, political landscapes, and trade opportunities across key Asia-Pacific regions.
India & Sri Lanka
Discussions highlighted India’s ongoing FTA/Investment Agreement negotiations, offering insights into the outcomes of the Indo-German Governmental Consultations. For Sri Lanka, the focus was on the post-election political landscape, the economic impact of recent foreign debt restructuring, and ongoing reforms aimed at stabilization and growth.
Australia & New Zealand
Experts presented a comparative analysis of the two nations, covering their political frameworks, FTAs, and sectoral opportunities. Discussions delved into New Zealand’s agriculture sector and Australia’s mining and renewable energy prospects, emphasizing opportunities in healthcare, energy, and productivity enhancements.
Malaysia & Singapore & Thailand
This session examined the impact of global and geopolitical changes on ASEAN economies, focusing on Germany’s role in driving business opportunities. Key discussions revolved around political stability, economic developments, and how ASEAN nations can leverage their strategic positioning in the current global scenario.
The Triple D – Derisking, Decoupling, Diversification – A Companies’ Perspective
After the AHK Business Lunches, the session on Derisking, Decoupling, and Diversification addressed how companies are balancing resilience and cost-efficiency amidst supply chain challenges. The participants were Anna Maria Braun, CEO, B. Braun; Markus Kamieth, Chairman of the Board of Executive Directors, BASF; and Jongbum Park, President & CEO, Samsung Southwest Asia. Isabelle Körner moderated the session.
The industry leaders pointed to India’s potential as a strategic alternative for global businesses. The panel also discussed the importance of clear communication with stakeholders when implementing these strategies.
Future AI – Startup Pitch Launching the German Asia-Pacific Startup Award
The next session on Startup Pitch spotlighted Asia-Pacific’s vibrant startup ecosystem. Moderated by Sindhu Gangadharan, MD, SAP Labs India and Head, Customer Innovation Services, SAP, eight visionary entrepreneurs presented groundbreaking ideas to an expert jury, showcasing innovations that align with the region’s economic and technological priorities.
India Evening
The day concluded with the India Evening, an immersive cultural event that celebrated India’s rich heritage and dynamic economy.
Saturday, 26 October 2024
Parallel Breakfast Session
The Parallel Breakfast Sessions on 26 October 2024 provided an engaging platform to discuss two critical topics shaping the economic future of Germany and the Asia-Pacific region – Skilled Workforce.
In the session on Skilled Workforce: German-Asian Cooperation Schemes, participants explored strategies to address labour shortages, driven largely by ageing demographics in Germany. The discussions highlighted the potential of creating a triple-win scenario: benefiting Germany, the Asia-Pacific, and the skilled workforce. Key insights included leveraging India’s rapidly growing labour market, where 1 million individuals enter the workforce monthly, and implementing Germany's Skilled Labour Strategy on India to foster mutual growth.
The second session on Financing Foreign Trade emphasized streamlining migration processes, particularly simplifying visa approvals, to attract skilled workers. Speakers noted how countries like Australia have set benchmarks for efficient and fair migration systems. Additionally, the session addressed the challenges faced by SMEs, advocating for targeted support to enable their participation in global talent acquisition.
Both sessions underscored the need for tolerance and societal acceptance as pivotal factors in ensuring the long-term success of labour migration and international workforce collaboration.
Tech Dialogue on Industrial Innovation
The panel discussion on Industrial Innovation focused on the latest technological advancements shaping industrial processes. Moderated by the Managing Editor of CNBC-TV18, Shereen Bhan, the panellists Roland Busch, and Roshni Nadar Malhotra, Chairwomen of HCLTech, explored how innovations drive efficiency and competitiveness, and discussed the impact of these technologies on business practices within the context of the Germany and Asia-Pacific economic partnership.
Sustainable Finance in Times of Geopolitical Change
In this session, the panellists discussed how banks offer various products to finance the transition to a more sustainable economy. But this is only one aspect of a complex issue. All stakeholders must do their best to ensure that the transition remains a political and economic priority and act accordingly. At the same time, these stakeholders must navigate an increasingly challenging and uncertain geopolitical landscape.
The panellists for this session were Tanuj Kapilashrami, Chief Strategy & Talent Officer, Standard Chartered Bank; Miguel López, CEO, Thyssenkrupp; and Alexander von zur Mühlen, CEO AP, EMEA and Germany, Deutsche Bank. Isabelle Körner moderated the session.
AHK Business Lunches
The AHK Business Lunches held on 26 October 2024, provided participants with a platform to gain region-specific insights and engage in meaningful discussions about emerging business trends and opportunities. Each session focused on distinct regions, highlighting their unique economic and geopolitical contexts:
Greater China
This session delved into the latest developments in Mainland China, Hong Kong, and Taiwan. Discussions revolved around navigating the region's complex business environment, balancing opportunities with challenges, and strategies for mitigating risks while maximizing potential growth.
Japan and Korea
Experts provided a comparative analysis of current trends and growth opportunities in these two nations, situating them within the broader geopolitical landscape. The session emphasized both countries' pivotal roles in driving innovation and fostering economic partnerships with Germany.
ASEAN: Indonesia, Philippines, and Vietnam
This session focused on the economic and political developments within ASEAN, emphasizing how global shifts impact these nations. Participants explored how German companies could leverage opportunities in the region, given ASEAN's increasing importance in global and geostrategic contexts.
Rude Awakening in Raw Materials: Dependencies and the Quest to Diversify
This session explored the vulnerabilities in global raw material supply chains, particularly those dominated by China. Moderated by Shivani Wazir Pasrich, the experts Inge Hofkens, Member of the Executive Board & COO Multimetal Recycling, Aurubis; Rowena Smith, Managing Director & CEO, Australian Strategic Materials; and Rohit Pathak, President & CEO Birla Copper; highlighted the urgent need for diversification and strategic partnerships to mitigate risks.
Oxford Style Debate - Competing Offers to the Global South
“Western offers of development aid and free trade tied to specific criteria have not met the needs of the Global South and as a result, the West is losing ground to rising powers such as India and China. Despite initiatives such as the EU’s Global Gateway this trend will only intensify over the coming years” – this was the motion the two teams on stage had to debate. This engaging debate highlighted contrasting approaches by the West, China, and India in engaging with the Global South. A poll taken before and after the debate revealed a significant shift in favour of South-to-South collaboration, underscoring changing perceptions about aid and trade models.
“The world is entering an era of asymmetric multipolarity with differential appraisal models of modernity. We have to change our post-1945 and post-1991 assumptions around what we offer.” – Samir Puri, Chatham House.
“You build an economy on shared interest. We are in a critical moment in time, where we need more transactional and more eye-to-eye partnerships.” – Romana Vlahutin, German Marshall Fund
Economic Security: How the Global Economy Adapts to Geopolitical Shifts
The Economic Security panel brought together prominent voices from government, industry, and academia to address the pressing impact of heightened geopolitical volatility on global economic integration. Shamika Ravi, Member of the Economic Advisory Council to the Prime Minister and Secretary to the Government of India; Susanne Wiegand, CEO, RENK Group and Chairwoman, BDI Committee on Security; and H.E. Bettina Stark-Watzinger, Federal Minister of Education and Research, Federal Republic of Germany; shared diverse perspectives on mitigating risks, emphasizing the importance of diversified supply chains and robust partnerships in enhancing economic resilience across Asia and beyond.
Moderated by Ambassador Rainer Rudolph, Vice-Chairman, Munich Security Conference, the discussion highlighted actionable strategies for navigating today’s volatile economic landscape, stressing the need for collaboration to counter risks and foster stability.
Conclusion: A Blueprint for Collaboration
“The world needs stability and sustainability, trust and transparency. These values must be emphasized on every front, whether in society or supply chains. Without them, no country or region can envision a brighter future.” – Prime Minister Narendra Modi.
APK 2024 concluded with a strong emphasis on fostering partnerships that balance economic growth with sustainability. With €15 billion invested in Asia-Pacific sustainability initiatives and more on the horizon, German-Asia collaborations are poised to address global challenges while driving innovation.
H.E. Robert Habeck aptly summarised the conference’s vision: “Together, we can create an Asia-Pacific that balances prosperity with sustainability, setting an example for the world.”
By combining thought leadership, strategic discussions, and cultural exchanges, the Asia-Pacific Conference of German Business 2024 reaffirmed its role as a catalyst for innovation, resilience, and shared progress across Germany and the Asia-Pacific region.
